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Payment Processing via IVR

IVR systems are beginning to play a bigger role in payment processing as people increasingly turn to the phone and Internet for their financial transactions. More and more organizations such as credit card and utility companies are working to oblige their customers.

IVR systems from companies like Plum Voice make it possible for both customers and organizations to benefit from over-the-phone payment processing. While customers can conveniently pay by phone, companies can cost-effectively provide a new service.

Organizations can use IVR to process payments for a number of things, including goods and services, taxes, parking tickets, credit cards, mortgages and pre-paid cards. Because IVR can accept credit and debit cards as well as bank information over the phone, its uses are far-reaching.

For payment processing, IVR can do basically the same thing as phone representatives. When customers call in to make payments, it takes their information and passes it on for processing. Meanwhile, organizations don’t have to staff live bodies to attend all their payment calls.

Systems can ask any question to verify identification of the caller including zip code of the card billing address just like at a gas station pump. With a call-flow editor like Plum’s QuickFuse, organizations can easily change system prompts and menus to accommodate new products, business requirements or customer branding.

A PCI (News - Alert)-certified IVR vendor, Plum Voice has a full team dedicated to developing user-friendly voice applications that integrate with any payment gateway or merchant processor. Plum also offers IVR payment processing solutions onsite and through its hosted network.

Payment processing via IVR is becoming more accepted by payment processors as an efficient and safe way to process transactions over the phone.

TMCnet publishes expert commentary on various telecommunications, IT, call center, CRM and other technology-related topics. Are you an expert in one of these fields, and interested in having your perspective published on a site that gets several million unique visitors each month? Get in touch.

Edited by Juliana Kenny

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